Olympia Capital Holdings Limited (OCHL) is a holding company of one subsidiary and five associate companies. These comprise of Olympia Capital Corporation Limited (OCCL) incorporated in Botswana, Kalahari Floor Tiles (Proprietary) (KFT) Limited in Botswana, Plush (Proprietary) Limited in South Africa, Dunlop Industries Limited (DIL) in Kenya, Avon Rubber (K) Limited in Kenya and Gaborone Enterprises (Proprietary) Limited in Botswana.
4.2.1a Dunlop Industries Limited
Dunlop Industries Limited (DIL) is 100% subsidiary of Olympia Capital Holdings Limited (OCHL). Its core business is manufacture of PVC floor tiles (Vinyl's), general-purpose adhesives and rubber solution for mending cycle tube punctures.
Dunlop Industries carries out the business of manufacture of PVC; vinyl floor tiles as the only fully fledged manufacturer these products in Kenya. The company also manufactures PVA adhesives and Rubber Solution for the repair of bicycle tube punctures.
4.2.1b Avon Rubber Company Limited.
Avon Rubber Company is a privately owned property company. Olympia Capital Holdings Ltd acquired a 27.5% equity stake in this company on December 31, 2006.
It owns three properties situated on the corner of Enterprise and Dar-es-Salaam roads Industrial Area. Movable properties include MKI House, Avon House and Avon Centre occupying 3.3 acres of land and house.
These properties are fully developed with 100,000 sq. Feet comprising of banks and offices with gross annual turnover of approximately 21 million. The company is planning to increase the overall value of the property by ‘modernizing' the existing structures to effectively compete in the current property market at current market rates. This will likely push the annual turnover to about 24 million Kenya shilling.
4.2.1c Olympia Capital Corporation Limited.
Olympia Capital Holding Limited now holds 26% equity interest in Olympia Capital Corporation (Proprietary) Limited. In 2005, the subsidiary offered 734,000 ordinary shares of Pula .01 each by way of an initial public offering ("IPO") on the Botswana Stock Exchange at an issue price of Pula 0.80 representing 5.4% of the share capital prior to the IPO. The IPO of the shares closed on January 31, 2005, by which date the IPO was oversubscribed by 73.28%. The company is looking at increasing the rental income to cover 100 % of the rentable area.
4.2.1d Plush Products (Pty) Limited.
During the year, Olympia Capital Corporation (Pty) Ltd acquired a 74% equity stake in this company. The company has decided to enter into mirrors and shower doors distribution business as a strategic partner to PG glass under a leading South African brand known as Yokota. This move is expected to increase the annual turnover in excess of Kshs 80 million per year. Plush does about Kshs 700 million turnover in South Africa.
4.2.1e Kalahari Floor Tiles (Pty) Limited
The company is 100% owned by Olympia Capital Corporation (Pty) Limited. The company is the sole manufacturer of vinyl floor tiles in Botswana, producing approximately 55,000 square meters of floor tiles per month with a capability of producing up to 75,000 square meters per month.
The flooring division contributed in excess 80% revenue in both top and bottom line for the company. The company's strategic plan is to diversify its source of revenue is to introduce new products and improve other existing divisions. The company renovated and improved its uPVC division. This has reduced costs and improved its profitability. The company is looking at relocating its chemical division so as to reduce its costs and work towards development of consistent and quality clients.
4.2.1f Gaborone Enterprises (Pty) Limited
KFT acquired a 100% equity stake in Gaborone Enterprise Limited, a property investment company that owns the plots where the factory is situated. The Company is looking into acquiring additional premises to house the chemical and other new divisions.
